About this fund

Robeco Multi Asset Growth is an actively managed global multi-asset fund with a focus on capital growth. The fund has a relatively high risk profile and mainly invests in equity and bond funds of Robeco and RobecoSAM. The portfolio management team can also use other investment instruments to enhance the risk/return profile of the fund.

The value of the investments may fluctuate. Past performance is no guarantee of future results.Annualized (for periods longer than one year).Cumulized (total amount of return).Performances are gross of fees and based on closing values. In reality, costs (such as management fees and other costs) are charged. These have a negative effect on the returns shown.Performances are net of fees and based on transaction prices.

Fund

Reference index

The value of the investments may fluctuate. Past performance is no guarantee of future results.Annualized (for periods longer than one year).Cumulized (total amount of return).Performances are gross of fees and based on closing values. In reality, costs (such as management fees and other costs) are charged. These have a negative effect on the returns shown.Performances are net of fees and based on transaction prices.

Performance explanation

Based on transaction prices, the fund's return was -0.98%. Robeco Multi Asset Growth had a very difficult month. In line with the higher risk profile, it was to be expected that August would be a challenging month for the fund's performance. This month's implementation of a lower allocation to equities in favor of cash unfortunately did not offer enough support to performance. Several funds in the portfolio delivered an exceptionally poor performance in August.

Market development

There were no significant changes in the economic data to trigger a change in economic momentum. The slow but steady deterioration of economic momentum continued in August. What did change was the aggravation of the trade dispute between China and the US. As has been the case many times before, it started with a tweet. The response to the tweet was a weakening of the Chinese currency through the psychological important level of 7. Markets reacted negatively to the reescalation of the trade tensions. Global equity markets and rates dropped, as market participants headed for safety. The market is once again looking at the central banks for help and it is highly likely that both the ECB and the Fed will answer the calls for more monetary support.

Fund Classification

Currency policy

Except for the active currency positions, currency risks are partly hedged to the base currency of the fund (EUR).

Dividend policy

This share class of the fund will distribute dividend.

ESG Integration policy

Robeco Multi Asset Growth primarily invests in Robeco funds. Robeco strives to incorporate ESG issues in investment decisions. For the majority of the investments ESG integration occurs indirectly. The ambition is to have ESG integration for the full composition of the portfolio. Sustainability can be a decisive factor in the fund-selection process. Capabilities from other asset managers can be selected. Such funds are currently out of the scope of the sustainability screening.

Investment policy

Robeco Multi Asset Growth is an actively managed global multi-asset fund with a focus on capital growth. The fund has a relatively high risk profile and mainly invests in equity and bond funds of Robeco and RobecoSAM. The portfolio management team can also use other investment instruments to enhance the risk/return profile of the fund. The fund is managed by an experienced team of specialists in multi-asset investing with a proven track record of more than 20 years. The investment strategy also relies on the sustainability research of RobecoSAM. RobecoSAM is an investment specialist focused exclusively on Sustainability Investing with more than 20 years of experience in sustainability, thematic and impact investing.

Risk policy

Risk management is fully integrated in the investment process to ensure that the positions always meet predefined guidelines.

Expectation of fund manager

In August, we further decreased the risk profile of the portfolios. The combination of slowly eroding economic data and an increase in trade tensions were the main triggers for this decision. The weight of equities was decreased further and the weight of cash was increased.

Jeroen Blokland, Ernesto Sanichar

Jeroen Blokland, Ernesto Sanichar

Mr. Jeroen Blokland is Portfolio Manager with Robeco within the Robeco Global Allocation team. Jeroen is portfolio manager of the Robeco Pension Return Portfolio since the launch in March 2012. Prior to joining the Robeco Global Allocation team, he was employed by IRIS, the independent Institute for Research and Investment Services of Robeco and Rabobank, as an Investment strategist since 2005. He started his career at Interpolis in 2002, where he held a position as asset manager and investment strategist. Jeroen holds a Master's degree in Economics from Erasmus University, Rotterdam. Ernesto Sanichar is Portfolio Manager with a focus on pension fund mandates. His asset specialties are fixed income and FX. He has been part of Robeco's Investment Solutions department since 2005. Previously, he was Treasury Manager for four years. Prior to joining Robeco in 2001, Ernesto worked at ING Barings as a Product controller at the cash equities and derivatives desk for three years. Ernesto started his career in the investment industry in 1998. He holds a Master's in Financial Economics from Erasmus University Rotterdam.

Cost of this fund

Ongoing charges

Transaction costs

The expected transaction costs are

Performance fee

This fund may also deduct a performance fee of

Extra fees

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Max exit fee

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Fiscal product treatment

The fund is established in Luxembourg and is subject to the Luxembourg tax laws and regulations. The fund is not liable to pay any corporation, income, dividend or capital gains tax in Luxembourg. The fund is subject to an annual subscription tax ('tax d'abonnement') in Luxembourg, which amounts to 0.05% of the net asset value of the fund. This tax is included in the net asset value of the fund. The fund can in principle use the Luxembourg treaty network to partially recover any withholding tax on its income.

Fiscal treatment of investor

The fiscal consequences of investing in this fund depend on the investor's personal situation. For private investors in the Netherlands real interest and dividend income or capital gains received on their investments are not relevant for tax purposes. Each year investors pay income tax on the value of their net assets as at 1 January if and inasmuch as such net assets exceed the investor’s tax-free allowance. Any amount invested in the fund forms part of the investor's net assets. Private investors who are resident outside the Netherlands will not be taxed in the Netherlands on their investments in the fund. However, such investors may be taxed in their country of residence on any income from an investment in this fund based on the applicable national fiscal laws. Other fiscal rules apply to legal entities or professional investors. We advise investors to consult their financial or tax adviser about the tax consequences of an investment in this fund in their specific circumstances before deciding to invest in the fund.

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